First Trust Managed Municipal ETF (NASDAQ:FMB) Sees Large Volume Increase – Here’s Why

First Trust Managed Municipal ETF (NASDAQ:FMB) saw strong trading volume on Friday . 215,573 shares changed hands during trading, an increase of 29% from the previous session’s volume of 167,538 shares.The stock last traded at $50.36 and had previously closed at $50.17.

First Trust Managed Municipal ETF Price Performance

The business has a 50-day moving average of $51.04 and a 200-day moving average of $51.30.

First Trust Managed Municipal ETF Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, March 27th.

Hedge Funds Weigh In On First Trust Managed Municipal ETF

Several hedge funds have recently added to or reduced their stakes in the company. ABLE Financial Group LLC lifted its position in shares of First Trust Managed Municipal ETF by 36.4% during the fourth quarter. ABLE Financial Group LLC now owns 72,264 shares of the company’s stock worth $3,686,000 after purchasing an additional 19,269 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of First Trust Managed Municipal ETF during the fourth quarter valued at approximately $2,095,000. Armis Advisers LLC purchased a new stake in shares of First Trust Managed Municipal ETF in the fourth quarter valued at approximately $484,000. Elequin Capital LP grew its stake in First Trust Managed Municipal ETF by 157.3% in the fourth quarter. Elequin Capital LP now owns 6,968 shares of the company’s stock worth $355,000 after purchasing an additional 4,260 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in First Trust Managed Municipal ETF by 620.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 150,146 shares of the company’s stock worth $7,659,000 after purchasing an additional 129,301 shares during the period.

About First Trust Managed Municipal ETF

The First Trust Managed Municipal ETF (FMB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that invests primarily in investment-grade municipal bonds, with some high-yield exposure. FMB was launched on May 13, 2014 and is managed by First Trust.